Full-Time

Risk Analyst

Confirmed live in the last 24 hours

Relay Financial

Relay Financial

201-500 employees

Online banking platform for small businesses

Fintech
Financial Services

Junior, Mid

Toronto, ON, Canada

Hybrid work environment: in-office presence required two times a week.

Category
Risk Management
Finance & Banking
Required Skills
Data Analysis
Requirements
  • 1-3 years of experience in risk management, preferably in the fintech or banking industry
  • Strong analytical skills with the ability to collect, organize, analyze, and disseminate significant amounts of information with attention to detail and accuracy
  • Understanding of financial principles and risk management practices
  • Familiarity with fintech industry regulations and standards
  • Excellent problem-solving and decision-making skills
  • Strong written and verbal communication skills
  • Experience with Google Suite, Microsoft and other tools
  • Proficient in risk assessment and prediction software
  • Adaptable and able to handle change and uncertainty
Responsibilities
  • Perform regular risk assessments to understand the potential risks that could impact the financial and operational health of the business
  • Analyze data to identify patterns and trends that could suggest future risks
  • Collaborate with relevant stakeholders - internal teams and external customers - to develop and implement risk mitigation strategies
  • Prepare risk management and postmortem reports for internal stakeholders
  • Maintain an up-to-date understanding of industry trends, developments in the fintech space, and changes in regulations that could impact the company's risk profile
  • Assist with the development and implementation of risk management policies and protocols
  • Contribute to the development of risk models for new products and services

Relay Financial offers an online banking platform tailored for small businesses, consolidating various financial transactions like ACH transfers and payouts from services such as PayPal and Stripe into one easy-to-use interface. By partnering with Thread Bank, Relay Financial ensures secure deposits with FDIC insurance coverage up to $3,000,000 and provides competitive annual percentage yields (APYs). The platform operates on a subscription model, offering features like income tracking and automated bookkeeping, which simplifies financial management for business owners. The goal is to help small businesses optimize their financial operations and focus on growth.

Company Stage

Series B

Total Funding

$50.2M

Headquarters

Toronto, Canada

Founded

2018

Growth & Insights
Headcount

6 month growth

32%

1 year growth

56%

2 year growth

153%
Simplify Jobs

Simplify's Take

What believers are saying

  • Securing $44M CAD in Series B funding positions RelayFi for significant growth and product development, enhancing its market presence.
  • RelayFi's platform has shown impressive revenue growth, tripling in 2022 and nearly sextupling in 2023, indicating strong market demand and adoption.
  • The development of AI-powered predictive cash flow analytics could provide small businesses with advanced financial insights, further solidifying RelayFi's value proposition.

What critics are saying

  • The competitive landscape in FinTech is intense, with numerous startups and established players vying for market share, which could impact RelayFi's growth.
  • Reliance on partnerships, such as with Thread Bank, introduces dependency risks that could affect service continuity and customer trust.

What makes Relay Financial unique

  • RelayFi consolidates various financial transactions into one interface, offering a comprehensive view of cash flow, unlike traditional banks that often require multiple platforms.
  • Partnership with Thread Bank ensures FDIC insurance coverage up to $3,000,000, providing a higher level of security compared to many competitors.
  • RelayFi's focus on small businesses with features like automated bookkeeping and expense management sets it apart from general-purpose banking solutions.

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